Category Archives: Business

AD Ports Group, CMA Terminals Khalifa Port, and CMA CGM Group Sign MoU

AD Ports Group, CMA Terminals Khalifa Port, and CMA CGM Group Sign MoU to Extend Inland Reach Across the UAE and Wider Region 

• The three partners intend to cooperate to anchor cargo flows across AD Ports Group’s consolidated inland intermodal network of rail-linked inland container depots, dry ports and cargo depots

Abu Dhabi, UAE – 05 May 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of integrated trade, industry and logistics solutions, signed a Memorandum of Understanding (MoU) with CMA Terminals Khalifa Port container terminal and CMA CGM Group, a global player in sea, land, air and logistics solutions, to develop efficient intermodal solutions and extend inland reach across the UAE and wider region, through AD Ports Group’s consolidated inland intermodal network.

Under the MoU, the three partners intend to cooperate to anchor cargo flows across AD Ports Group’s consolidated network of rail-linked inland container depots, dry ports, and cargo depots, extending CMA Terminals Khalifa Port’s reach beyond the quay to inland consumer, industrial, and regional markets.

The collaboration will also explore opportunities to strengthen cargo flows across the UAE and regional markets, including the Northern Emirates, whilst extending trade corridor optionality through rail-linked inland connectivity to the borders of the Sultanate of Oman and the Kingdom of Saudi Arabia.

By supporting more efficient inbound cargo flows to industrial and manufacturing sectors, the collaboration aims to support the UAE’s industrial growth agenda by creating flexible and resilient export corridors through multiple inland and gateway routing options. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “This MoU marks an important step in consolidating the UAE’s inland intermodal logistics backbone under one integrated platform. By bringing CMA CGM as the first global shipping line partner into this network, we are extending CMA Terminals Khalifa Port beyond its traditional role at the quay and creating a more connected, flexible and resilient trade gateway for the UAE and the wider region. This initiative, under the wise guidance of our leadership in the UAE, directly supports national industrial growth ambitions by strengthening inbound cargo access, improving corridor optionality and enhancing the long-term competitiveness of national supply chains.”

Inaugurated in December 2024, CMA Terminals Khalifa Port is a joint venture between CMA CGM Group (70%) and AD Ports Group (30%), and one of three container terminals at Khalifa Port operated by major international shipping lines. 

Jesper Stenbak, Regional Director in the Middle East Gulf, Indian Sub-Continent, and Indian Ocean, CMA CGM Group, said: “This collaboration strengthens CMA Terminals Khalifa Port’s role as an inland-enabled gateway terminal, extending CMA CGM’s reach beyond the port through integrated inland connectivity across the UAE and into regional markets. By linking maritime services more directly to inland cargo flows, this partnership supports more efficient routing, stronger supply chain resilience and improved service reach for our customers.”

AD Ports Group’s inland intermodal network connects gateway ports to inland dry ports, rail-linked cargo facilities and industrial demand centres across the UAE, supporting more efficient cargo movement, stronger inland connectivity and improved access to regional trade corridors.

Bihar AI Summit 2026 to Showcase Tech Talent in Patna

Patna, May 5 (BNP): Bihar is preparing to host a major technology-focused event with the Bihar AI Summit 2026, scheduled for May 23–24 at Urja Auditorium in Patna. The event is expected to bring together thousands of students, developers, startups, and technology professionals from across the region.

The summit aims to promote awareness and understanding of Artificial Intelligence, while encouraging young talent to explore opportunities in emerging technologies. Organisers said the event will focus on how AI is transforming key sectors such as healthcare, education, agriculture, and governance.

By creating a platform for learning, collaboration, and innovation, the summit seeks to bridge the skill gap and introduce participants to practical applications of AI in real-world scenarios.

The initiative is expected to play a significant role in strengthening the state’s growing technology ecosystem and inspiring the next generation of digital innovators.

Škoda Auto Volkswagen India appoints Ashutosh Dixit as Brand Director of Porsche India

Mumbai, May 05:  Porsche India, a division of Škoda Auto Volkswagen India Private Limited (SAVWIPL), today announced the appointment of Ashutosh Dixit as Brand Director, Porsche India, with immediate effect.

Throughout a distinguished career across India, China, and Europe, Ashutosh Dixit has held several leadership roles, building deep expertise in strategy, sales operations, and brand development. He brings over 28 years of experience in the automotive industry, including nearly two decades within the Volkswagen Group. In his previous role as Market Development Director at the Porsche Middle East and Africa regional office, he played a key role in shaping initiatives for the Indian market.

Dixit succeeds Manolito Vujicic, who has decided to pursue opportunities outside the Group. Škoda Auto Volkswagen India thanks Manolito Vujicic for his leadership and contribution.

“Ashutosh brings a deep understanding of both the Porsche brand and the Indian market to this role,” said Dr. Manfred Bräunl, Chief Executive Officer, Porsche Middle East and Africa. “His leadership experience across regions and functions makes him exceptionally well-positioned to guide Porsche India into its next phase. India continues to be an important market for us, and we are confident that under his leadership, the brand will further strengthen its presence and performance.”

Piyush Arora, MD and CEO, Škoda Auto Volkswagen India said, “We are delighted to welcome Ashutosh Dixit as the new Brand Director of Porsche India, who will further bolster the leadership team in India. Ashutosh is a familiar face within the Volkswagen Group, with his understanding of markets, customers, and the brand making him well-suited to lead Porsche India. I’m confident he will build on the progress Porsche has made in India and continue to strengthen the brand’s presence. This appointment is a testament to our unwavering focus on strengthening internal talent from within India.”

Jan Bures, Executive Director of Sales, Marketing and Digital, Škoda Auto Volkswagen India added, “Ashutosh’s appointment marks an exciting chapter for Porsche in India. His proven ability to navigate diverse markets and lead with vision makes him the right person to drive our journey forward. India is a dynamic and strategic market for us, and with Ashutosh at the helm, we look forward to building stronger connections with our customers and achieving new milestones.”

Škoda Auto Volkswagen India remains committed to the long-term potential of the Indian automotive market, with a clear focus on sustainable growth, customer-centric innovation, and expanding its product portfolio.

Religare Finvest appoints Karthik Srinivasan as CEO

New Delhi, May 5: Religare Finvest Limited (RFL), a Small and Micro Enterprises (SME)-focused NBFC, today announced the appointment of Karthik Srinivasan as its Chief Executive Officer.

A seasoned business leader with over three decades of experience across banking, financial services, and large-scale operations, Srinivasan brings deep strategic expertise and execution capabilities to lead Religare Finvest into its next phase of growth.

In his new role, Srinivasan will be responsible for formulating and executing the company’s strategy to build a scaled, multi-line NBFC. His focus will include expanding a robust phygital distribution network, strengthening risk management frameworks, and enhancing credit delivery using advanced technologies, including AI-led solutions. He will also work toward building a high-performing organization and fostering a resilient, growth-oriented culture.

Arjun Lamba, Executive Director at Religare Enterprises Limited, said,

“We are delighted to welcome Karthik Srinivasan as Chief Executive Officer of Religare Finvest Limited. His deep domain expertise and proven leadership will be instrumental in scaling the business. With strong capital backing and long-term support, we are well positioned to expand our presence in the SME lending space.”

Prior to joining RFL, Srinivasan spent over a decade at HDB Financial Services, where he played a key role in building and scaling consumer and asset finance portfolios across multiple product lines. He also contributed significantly to the company’s digital transformation initiatives. Earlier in his career, he held leadership roles at Intelenet Global Services / Serco and worked with leading domestic and international financial institutions. He has also been involved in entrepreneurial ventures in the education and technology sectors.

Commenting on his appointment, Karthik Srinivasan said,

“I am delighted to join Religare Finvest at a pivotal time. My focus will be on strengthening core business fundamentals, investing in people and capabilities, and building a resilient institution that can sustain long-term growth.”

Srinivasan holds a B.Tech in Electrical Engineering from Indian Institute of Technology Delhi and a PGDM in Accounting and Finance from Indian Institute of Management Bangalore.

This appointment comes at a significant juncture for Religare Finvest. Following the Reserve Bank of India’s removal of the Corrective Action Plan (CAP) restrictions, the company is now well-positioned to resume and scale its lending operations. Strengthened by improved institutional standing and a solid capital base, RFL is set to accelerate growth and expand its SME lending footprint.

Indranil Choudhury, Group Chief Human Resources Officer at Religare Enterprises Limited, added,

“Karthik brings a rare combination of strategic clarity and execution excellence. His leadership will be key in building a resilient organization and driving sustainable growth.”

With this leadership transition, Religare Finvest signals a strong intent to move forward with renewed momentum, leveraging technology, capital strength, and strategic leadership to unlock long-term value.

Indian Markets End Lower Amid Geopolitical Tensions and Currency Pressure

Mumbai, May 5 (BNP): Indian equity markets closed lower on Tuesday as renewed geopolitical tensions in the Strait of Hormuz and concerns over the fragile US-Iran ceasefire weighed on investor sentiment.

Benchmark indices came under selling pressure during a volatile trading session, with broader risk aversion also driven by a weakening rupee, which hit a record low against the US dollar amid rising crude oil prices.

The 30-share BSE Sensex ended the day down 251.61 points, or 0.33%, at 77,017.79. During intraday trade, the index had fallen as much as 754.37 points to 76,515.03 before recovering some losses.

Market participants remained cautious as elevated oil prices and global uncertainty added to concerns over inflationary pressures and foreign capital flows.

India, Japan Strengthen Healthcare Cooperation

Oteria Launches New Brand Film Skin In Every Light Celebrating the Modern Woman’s Everyday Care, Confidence and Self-Love

May 05: Oteria, a premium gender-neutral skincare brand under Rivpra Formulations, has unveiled its latest multimedia brand film Skin in Every Light celebrating the modern woman who effortlessly balances ambition, relationships and self-care in her everyday life.

Conceptualized around relatable daily moments, the film showcases a woman who seamlessly manages her professional responsibilities while also caring for the people around her, all while making time for herself. Through this narrative, Oteria reinforces the importance of self-care as an essential part of everyday life.

Set across multiple scenarios, the film showcases how simple personal care rituals naturally fit into a busy lifestyle. From getting ready for an important day at work to sharing thoughtful moments of care with loved ones at home, the narrative reflects the evolving priorities of today’s consumers who seek balance between ambition, relationships and self-care.

Speaking on the launch, Vibhor Rastogi, Director, Rivpra Formulations & Oteria shared, “At Oteria, we believe self-care is an essential part of everyday living. Through this brand film, we wanted to capture relatable moments from modern lifestyles where personal care naturally fits into busy routines, relationships, and daily responsibilities. The campaign reflects our vision of making self-care simple, thoughtful, and seamlessly integrated into the lives of today’s consumers.”

The brand film centres on self-care as a natural extension of everyday life, highlighting quiet, everyday routines. It also thoughtfully weaves Oteria’s hero products, including its lip balms and under-eye cream, into these moments, showcasing how skincare can seamlessly blend into daily rituals and feel both intuitive and essential. 

With this launch, Oteria continues its focus on promoting skin awareness and education around circadian rhythm-based skincare, encouraging users to align skincare with their body’s natural rhythm for better overall skin health. The film also features Oteria’s newly launched lip balm range, priced between INR 499 and INR 799, available in variants such as Strawberry, Chocolate, and Vanilla.

The new brand film #SkinInEveryLight is now live across Oteria’s digital and social media platforms, including Instagram and the brand’s official YouTube channel. 

Professional Investment Advisory Services’ Management Successfully Completes Change in Ownership

India Direct Tax Collections Rise 5.1 pc to INR 23.4 Lakh Crore in FY26

New Delhi, May 5 (BNP): India’s net direct tax collections recorded steady growth in the financial year 2025–26, rising 5.12% year-on-year to ₹23,40,406 crore, according to data released by the Central Board of Direct Taxes (CBDT).

Gross direct tax collections for the fiscal stood at ₹28,11,936 crore, marking a 4.03% increase compared to the previous financial year. The growth was driven by stable inflows from both corporate and non-corporate tax segments, reflecting consistent economic activity and improved compliance levels.

Corporate tax collections showed strong performance, increasing to ₹13,81,606 crore from ₹12,72,542 crore in FY25. Non-corporate tax collections, which include taxes paid by individuals, HUFs, and other entities, stood at ₹13,72,474 crore.

Collections from Securities Transaction Tax (STT) also saw an uptick, reaching ₹57,522 crore during the fiscal year.

Meanwhile, refunds issued declined slightly by 1.09% to ₹4,71,531 crore, which contributed to higher net tax collections. Analysts noted that the overall figures indicate steady tax buoyancy and efficient tax administration despite global economic uncertainties.

The data reflects a balanced contribution from corporate and individual taxpayers, underscoring the resilience of India’s tax system.

JLR India Slashes Range Rover SV Prices by Up to INR 75 Lakh Ahead of India–UK FTA

New Delhi, May 5 (BNP): Jaguar Land Rover (JLR) India has announced a significant price reduction of up to ₹75 lakh on its flagship Range Rover SV models, ahead of the expected benefits from the India–UK Free Trade Agreement (FTA).

The company said the revised pricing applies to its completely built unit (CBU) models imported from the UK, with the steepest cuts seen in the high-end SV range. The Range Rover SV has been reduced from ₹4.25 crore to ₹3.5 crore (ex-showroom), while the Range Rover Sport SV now starts at ₹2.35 crore, down from ₹2.75 crore.

According to JLR India, the price revision reflects anticipated changes in import duties once the FTA comes into effect, and the new prices are effective immediately.

Managing Director Rajan Amba said the move is aimed at passing on expected trade benefits to customers in advance and strengthening the brand’s presence in India’s luxury car market.

The company clarified that prices of locally manufactured models, including Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar, and Discovery Sport, remain unchanged. Models such as Defender and Discovery will also retain current pricing as they are manufactured outside the FTA’s scope.